FSA says failed to act fast enough on Libor

LONDON (Reuters) - The FSA said it should have been faster in spotting how banks "lowballed" Libor benchmark interest rates but stopped short of admitting to major regulatory failure. After pressure from UK MPs in a scandal that has seen top bankers depart and banks fined billions of pounds, the FSA published a 103-page internal report into when it first knew about manipulation of the London Interbank Offered Rate (Libor). Regulators around the world are still probing banks, traders and brokers that help set a rate used to price trillions of dollars of products from credit cards to home loans. ...